Meet the former billionaires who pledged stock as collateral and were underwater when the margin calls came in [Fortune]
Tellurian Inc. (TELL)
Last tellurian inc. earnings: 2/24 07:00 am
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US:NASDAQ Investor Relations:
ir.tellurianinc.com
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Source: Fortune
And one founder is in a bitter dispute with his lenders after he was recently stripped of all executive roles. The thing these individuals have in common? They've been forced to sell their slumping US-listed shares after they pledged them as collateral for personal loans. The practice of pledging shares has boomed during the past decade as equity markets surged amid record-low interest rates. Nearly half of US chief executive officers have used the technique to secure loans, giving them access to cash without shrinking their stake in the business they're running. But when things sour, it can backfire spectacularly.Take Tellurian Inc. co-founder Charif Souki, once America's best-paid executive. Last year, lenders to the one-time billionaire seized 25 million shares of the Houston-based natural gas firm that he had pledged in 2017 to secure loans for real estate investments. Worth about $250 million at the time of the pledge, they were sold for just $37 million after Tellurian's s
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News
- Gas Tycoon Charif Souki Owes Lenders $100 Million, Judge Rules [Yahoo! Finance]Yahoo! Finance
- Gas Tycoon Charif Souki Owes Lenders $100 Million, Judge Rules [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Gas Tycoon Charif Souki Owes Lenders $100 Million, Judge Rules [BNN Bloomberg (Canada)]BNN Bloomberg
- Tellurian Executive Chairman ‘Encouraged' by Progress [Yahoo! Finance]Yahoo! Finance
- Tellurian Makes Leadership Changes [Yahoo! Finance]Yahoo! Finance
TELL
Earnings
- 11/2/23 - Miss
TELL
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEF
- 3/22/24 - Form 3
- TELL's page on the SEC website